M&A Deal Summary

Evolution1 Acquires Evolution Benefits

On July 13, 2011, Evolution1 acquired financial services company Evolution Benefits from Genstar Capital

Acquisition Highlights
  • This is Evolution1’s 1st transaction in the Financial Services sector.
  • This is Evolution1’s 1st transaction in the United States.
  • This is Evolution1’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2011-07-13
Target Evolution Benefits
Sector Financial Services
Buyer(s) Evolution1
Sellers(s) Genstar Capital
Deal Type Merger

Target

Evolution Benefits

Avon, Connecticut, United States
Evolution Benefits is an electronic payment solutions for the employee benefits market since 2001. Its principal products are the Benny benefits debit card and the PayDirect software suite.

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Buyer(S) 1

Buyer

Evolution1

Simsbury, Connecticut, United States
Category Company
Founded 2000
Sector Internet Software and Services
DESCRIPTION

Evolution1, Inc.simplify the business of healthcare. Company through innovative healthcare software and payment solutions that administer and manage consumer directed accounts.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Merger) 1 of 1
State (Connecticut) 1 of 1
Country (United States) 1 of 1
Year (2011) 1 of 1

Seller(S) 1

SELLER

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 49.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.

DEAL STATS #
Overall 18 of 60
Sector (Financial Services) 1 of 6
Type (Merger) 1 of 6
State (Connecticut) 3 of 5
Country (United States) 16 of 54
Year (2011) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-15 MW Components

Charlotte, North Carolina, United States

MW Components is a manufacturer of products that make machines, engines, and complex sub-assemblies work harder, better, longer, and faster. Its full line of industrial springs, fasteners, machined parts, and flat-stamped spring-related products are engineered for peak performance and made from the world's best materials. MW Components is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-17 Woods Equipment Company

Oregon, Illinois, United States

Woods Equipment Company is a full-line manufacturer of attachments and implements for the lawn and landscape, agricultural and construction markets. Woods also distributes a full-line of replacement parts for tractors. Woods’ products are sold through a network of independent dealers throughout North America and are marketed under the brand names Woods, Gill, CF, Alitec, Gannon, Wain-Roy, WoodsCare and Tisco.

Sell $185M
Mergr

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